IMPACT OF INFORMATION TECHNOLOGY ON AUDIT QUALITY IN OYO STATE-OWNED TERTIARY INSTITUTIONS

Abstract

Regardless of the size of a company and year in the industry in which it operates, maintaining accurate records of critical financial data is essential to its sustained success. With accurate financial information and timely reporting, stakeholders and decision-makers can make better company decisions, address concerns early on, and establish the groundwork for long-term success. This study therefore examined the impact of information technology on audit quality in Oyo State-owned tertiary institutions. The adopted Ex-post facto research design and descriptive statistics, Ordinary Least Squares (OLS) multiple regression estimation was used. 
The study used secondary data on Hardware Quality (HQ), Application Software (AS), Telecommunication (TN), and Networking (NG) used by Oyo State-owned tertiary institutions from 2016 to 2021. Findings revealed that Hardware Quality, Application Software (AS), and Networking (NG) are positively related to audit quality. The statistics showed that telecommunication latency affects audit quality. It was recommended among others that Audit quality in tertiary institutions should be improved to guide against fraudulent activities and the audit departments of higher education institutions must make greater use of information technology.